REC announces record solar PV module sales in 2016

At the end of 2016, REC had manufactured more than 25 million PV panels in its history
At the end of 2016, REC had manufactured more than 25 million PV panels in its history

REC (Oslo, Norway) released its solar market insight report for Q4 and full-year 2016, revealing a record year in sales for the company.

REC achieved a 9% increase compared to 2015, with more than 1.26 GW of solar photovoltaic (PV) panel shipments. Q4, 2016 was one of the strongest quarters for sales volume in REC history: 349 MW (up 14% year over year).

“REC’s strong business result shows our ability to flexibly react to the diverse needs of customers around the world,” comments Steve O’Neil, CEO at REC.

 

Strong regional performance

Led by Germany, the UK and the Netherlands, REC shipped 406 MW to the EMEA region in 2016. REC saw a year-end rush in Q4, 2016 due to regulatory changes in various markets, making the quarter the best ever for REC in EMEA in terms of sales volume. The region’s share of annual sales rose from 26% to 32% of REC’s total global shipments.

In Germany, known as a trendsetter for its use of renewable energies and high quality standards, REC doubled its market share to approximately 13%.

The Americas remained REC’s strongest market globally. In 2016, 665 MW of REC panels went to the USA, amounting to 53% of all shipments worldwide.

REC’s successes in the USA are rooted in California, the country’s pioneer state for solar energy, where REC was the #1 most popular brand of solar panels for homes for the second year in a row. In addition, REC completed shipments of a 257 MW power plant in the Golden State – the largest installation with REC panels worldwide.

India, Australia and Japan were the main contributors to REC sales in the APAC region. Growing by 50% compared the previous quarter, Q4, 2016 was the second-best quarter ever for REC in APAC, a region with strong potential where REC is seeing increasing demand.

At the end of 2016, REC had manufactured more than 25 million panels in its history, equaling over 6.3 GW. The company continues to grow, innovate and expand its product lineup, including industry-leading multi-crystalline panels as well as market-tailored solutions.

 

2017-03-01 | Courtesy: REC | solarserver.com © Heindl Server GmbH

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